India’s Top 10 Companies’ Valuation Jumps By Over 2.7 Lakh Crore
The valuation of the top 10 Indian companies by market capitalisation jumped by over 2.7 lakh crore this week; tracking buoyed domestic bourses and an increase in risk appetite globally.
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Domestic indices made substantial gains in the holiday-truncated week, with trading shut on Friday on account of the Holi festival. The 30-share BSE Sensex rose over 4 per cent, while the NSE Nifty advanced nearly 4 per cent.
Reflecting the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country’s top-10 firms zoomed by ₹ 2,72,184.67 crore this week.
Corporate major Reliance Industries’ m-cap swelled by ₹ 54,904.27 crore to ₹ 16,77,447.33 crore.
Information Technology bellwethers TCS and Infosys Technologies added ₹ 41,058.98 crore to their market valuations.
The market valuation of Tata Consultancy Services (TCS) climbed ₹ 27,557.93 crore to ₹ 13,59,475.36 crore, while the valuation of Infosys jumped ₹ 13,501.05 crore to reach ₹ 7,79,948.32 crore.
The country’s top lenders, HDFC Bank, ICICI Bank and the SBI, saw a sharp jump in their market valuations. HDFC Bank’s valuation rose by ₹ 46,283.99 crore to ₹ 8,20,747.17 crore.
The m-cap of State Bank of India (SBI) climbed by ₹ 27,978.65 crore to ₹ 4,47,792.38 crore and that of ICICI Bank advanced by ₹ 29,127.31 crore to reach ₹ 5,00,174.83 crore.
The valuation of Hindustan Unilever Ltd (HUL) surged by ₹ 1,703.45 crore to ₹ 4,93,907.58 crore, and Bajaj Finance increased by ₹ 22,311.87 crore to ₹ 4,22,325.91 crore.
HDFC’s valuation rose by ₹ 33,438.47 crore to ₹ 4,37,859.67 crore.
Telecom major Bharti airtel also witnessed a rise of ₹ 15,377.68 crore to its market valuation, which stood at ₹ 3,96,963.73 crore.
In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.